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Jan 21, 2013
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we must make the hard choices to reduce the chosts of health care and the size of our deficit. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [ cheers and applause ] for we remember the lessons of our past when twilight years were spent in poverty and parents of a child with a disability had nowhere to turn. we do not believe that in this country freedom is reserved for the lucky or happiness for the few. we recognize that no matter how responsibly we live our lives, any one of us at any time may face a job loss or a sudden illness or a home swept away in a terrible storm. the commitments we make to each other through medicare and medicaid and social security, these things do not zap our initiative, they strengthen us. [ applause ] they do not make us a nation of takers, they free us to take the risks that make this country great. [ cheers and applause ] we, the people, still believe that our obligations as americans are not just to ourselves but to all poste
we must make the hard choices to reduce the chosts of health care and the size of our deficit. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [ cheers and applause ] for we remember the lessons of our past when twilight years were spent in poverty and parents of a child with a disability had nowhere to turn. we do not believe that in this country freedom is reserved for the...
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Jan 14, 2013
01/13
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governor jerry brown saying he will have balanced budget after years of massive deficit. but is it real? probably not, say budget expert. they say that december money was probably a one-off tied to the fiscal cliff. the wealthy taking gains in december to avoid higher tax rates in 2013. revenues from the new california tax they say won't really kick in until this quarter or later in 2013 as brad williams a california budget expert told me, quote, we suspect the added revenues were related to the federal tax changes rather than the new state tax rates. now it all shows that california is more dependent than ever on the wealthy. the top 1% of earners, remember they pay up to half of the state's total income taxes but revenues from the rich are now harder than ever to predict. back to you guys. >> thank you, robert. let's go to michelle ka brumich >> you will have a lot more cartoons available on the kid section only and also the exclusive video streamers of the new seasons of dallas. as you can see, getting a big texas more with more than 2%. back to you, tyler. >> thank yo
governor jerry brown saying he will have balanced budget after years of massive deficit. but is it real? probably not, say budget expert. they say that december money was probably a one-off tied to the fiscal cliff. the wealthy taking gains in december to avoid higher tax rates in 2013. revenues from the new california tax they say won't really kick in until this quarter or later in 2013 as brad williams a california budget expert told me, quote, we suspect the added revenues were related to...
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Jan 14, 2013
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default would increase borrowing costs and therefore add to future budget deficits. this letter from the treasury secretary intended to put more political and public pressure on congress to do something on the debt ceiling. so we're seeing the administration across the board acting in a very conservative way today. >> thank you very much. >>> up next, he spent millions of his own money warning about dangers of socialism. now the next crisis in washington. tom peterffy will join me next. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. with the spark cash card from capital one, sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark
default would increase borrowing costs and therefore add to future budget deficits. this letter from the treasury secretary intended to put more political and public pressure on congress to do something on the debt ceiling. so we're seeing the administration across the board acting in a very conservative way today. >> thank you very much. >>> up next, he spent millions of his own money warning about dangers of socialism. now the next crisis in washington. tom peterffy will join...
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Jan 16, 2013
01/13
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this issue raises all the deficit issues. it should. it really is after the fact. >> the reason we're having the problem now because they don't pass a budget. >> yes. exactly. look, they're avoiding the really tough stuff, which is dealing with long term deficits which we face today. they're much worse than what we faced in the '80s and '90s. they've got to get serious about doing the hard work that has to be done on both sides of the aisle to deal with the specifics how you get this done. >> sir, do you think the u.s. has a spending problem? >> look, we've got a deficit problem. >> is that the same thing as a spending problem or is it different? >> you've got -- look, when i was in congress and when we balanced the budget in the '90s, we were taking in roughly, these figures will be a little off, roughly, we were taking in 20% of gdp and spending 20% of gdp. that seems to me to be a fair place to come out. maybe you could put it at 18, maybe you could put it at 21 or 22. but get an agreement on that, and then go to work on both sides o
this issue raises all the deficit issues. it should. it really is after the fact. >> the reason we're having the problem now because they don't pass a budget. >> yes. exactly. look, they're avoiding the really tough stuff, which is dealing with long term deficits which we face today. they're much worse than what we faced in the '80s and '90s. they've got to get serious about doing the hard work that has to be done on both sides of the aisle to deal with the specifics how you get...
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Jan 15, 2013
01/13
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he doesn't care about deficits. he's not going to deal on this. >> you know, a couple of times during the news conference, i was interested in this. president obama said to congress, go ahead, give me the power and i'll issue more debt. that's really what he wants. he wants the power to issue unlimited debt so he can have unlimited spending and eventually he's going to get around to unlimited tax hikes. >> well, to be clear, as you know, when we talk about the debt, the president doesn't get to decide, you know, how much we're spending that's something that rests with congress. but in terms of what kate was saying with respect to, you know, him wanting to not really offer any cuts he's incurred the wrath of his party by offering chain cpi to social security. that's a reindexing of the cost of living index, revising down how much elderly people are getting. and he talk about potential fixes to medicare, potentially raising the age. it is not true that he's not willing to do that. i'll say there are a lot of people on
he doesn't care about deficits. he's not going to deal on this. >> you know, a couple of times during the news conference, i was interested in this. president obama said to congress, go ahead, give me the power and i'll issue more debt. that's really what he wants. he wants the power to issue unlimited debt so he can have unlimited spending and eventually he's going to get around to unlimited tax hikes. >> well, to be clear, as you know, when we talk about the debt, the president...
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Jan 15, 2013
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the problem is that was the last deficit increase. the $1.2 trillion is sort of already in the bank. the credit agencies, by the way, assume we're going to make those cuts. so if you're suggesting that we do additional sequestration on the smaller part of the budget, the 38% we talked about, domestic discretionary, i suppose that's one way you could go. but, it ignores the fact that we've got this bigger part of the budget that's more politically sensitive, but has to be dealt with. the biggest part of the budget and the fastest growing part of the budget. it also, the $1.2 trillion is in the bank because of the discussions we had two years ago. >> you think the democrats would not see that as a credible threat? they would say go ahead, let the sequestration kick in? >> well, i think democrats and republicans alike would like to alter the way the sequestration works. but i hope that nobody's talking about not making good on our commitment to reach the $1.2 trillion. i'm certainly not. and those of us who are concerned on the across-th
the problem is that was the last deficit increase. the $1.2 trillion is sort of already in the bank. the credit agencies, by the way, assume we're going to make those cuts. so if you're suggesting that we do additional sequestration on the smaller part of the budget, the 38% we talked about, domestic discretionary, i suppose that's one way you could go. but, it ignores the fact that we've got this bigger part of the budget that's more politically sensitive, but has to be dealt with. the biggest...
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Jan 14, 2013
01/13
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they are more or less speaking to their deficit reduction target and very significantly this agreement which beat expectations. it certainly was a risk that met up the business association and the unions would not come to agreement about making the labor market more flexible, that it would have to be imposed by the legislature and that could have created more legislation. but in the end, they got three out of the last five unions to agree. >> do they have growth? >> well, you know, who does? i think at this point, i don't think we can ask too much out of france right now. they've got, i think, the targets for gdp is now 0.2%, 0.3%. but it's kind of the same thing facing the rest of europe. i don't know if that's is particular to them and they are going to be able to pay their debts. it's not going to be a spiral debt that puts us back into the crisis again. >>> national retail federation conference in new york kicks off a week for gatherings in the u.s. >> we'll take a look at what investors could glean from these events. what are you doing? nothing. are you stealing our daughter's sch
they are more or less speaking to their deficit reduction target and very significantly this agreement which beat expectations. it certainly was a risk that met up the business association and the unions would not come to agreement about making the labor market more flexible, that it would have to be imposed by the legislature and that could have created more legislation. but in the end, they got three out of the last five unions to agree. >> do they have growth? >> well, you know,...
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Jan 14, 2013
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one that would reduce our deficits by $4 trillion over the next decade. which would stabilize our debt, and our deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy, but it would make it manageable. so it doesn't crowd out the investments we need to make in people and education and job training and science and medical research, all the things that help us grow. step by step, we've made progress towards that goal. over the past two years i've signed into law about $1.4 trillion in spending cuts. two weeks ago i signed into law more than $600 billion in new revenue. by making sure the wealthiest americans begin to pay their fair share. when you add the money that we'll save in interest payments on the debt, all together that adds up to a total of about $2.5 trillion in deficit reduction over the past two years. not counting the $400 billion already saved from winding down the wars in iraq and afghanistan. so we've made progress. we are moving towards our ultimate g
one that would reduce our deficits by $4 trillion over the next decade. which would stabilize our debt, and our deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy, but it would make it manageable. so it doesn't crowd out the investments we need to make in people and education and job training and science and medical research, all the things that help us grow. step by step, we've made progress towards...
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Jan 17, 2013
01/13
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i'll win votes from independent swing voters and then i win on the deficit. >> you can -- >> on cutting regulations. where it matters. >> you can still be a principled conservative. this is all music to my ears. joe i got to take a break. stay with me. we'll have you back. i want to talk some about fiscal policies and what republicans should or should not do about that crisis. meanwhile we'll talk about it now. a group of leading conservatives joined forces on debt spending today. they penned an op-ed on why the threat of a default ought to be used to force a balanced budget a threat of a debt default. i believe this is completely dead wrong. i think it will lower our credit rating, damage our economy. by the way it's totally unworkable. but we got to talk. joining me now is the co-author of that op-ed. we bring back our friend, cnbc contributor a former bush white house deputy press secretary. let me begin with you mr. nino. i want to cut spending like nobody's business. you mess around with the debt ceiling i'm going tell you, buddy, the whole world, fiscally, economically and politic
i'll win votes from independent swing voters and then i win on the deficit. >> you can -- >> on cutting regulations. where it matters. >> you can still be a principled conservative. this is all music to my ears. joe i got to take a break. stay with me. we'll have you back. i want to talk some about fiscal policies and what republicans should or should not do about that crisis. meanwhile we'll talk about it now. a group of leading conservatives joined forces on debt spending...
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Jan 18, 2013
01/13
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it's been running a huge surplus which is the deficit of the other countries of europe that they cannot finance. >> correct. >> that is the essence of the european crisis. >> but in a global environment -- >> the whole question with respect to the u.s. is whether we can sustain our current account relationship with the rest of the world. and particularly with china. and that's a decision that the rest of the world will make. it's completely -- >> james, are we -- we added a new entitlement, obama care, which some, i don't know what that's going to cost. there's some groups, i guess they would call them, if they're too conservative, but trillions and trillions of dollars of additional entitlements that we've just layered over the entitlements we already have. are we at the right level now? is this the perfect level of promises we've made? or would you even go above where we are right now? >> well, i think the problem that we have is that our health care sector is bloated by this enormous private insurance system that we have. this sort of mixed bag of insurance schemes. that makes our he
it's been running a huge surplus which is the deficit of the other countries of europe that they cannot finance. >> correct. >> that is the essence of the european crisis. >> but in a global environment -- >> the whole question with respect to the u.s. is whether we can sustain our current account relationship with the rest of the world. and particularly with china. and that's a decision that the rest of the world will make. it's completely -- >> james, are we --...
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Jan 18, 2013
01/13
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i like the enforced budget cuts because that really helps the deficit. so i'm in favor of that. >> it's another reason the vix is down this much today, judge. you look at the market the market is pretty flat today. but the vix is just getting cranked. >> on your point, sorry to interrupt, i want to let everybody know the vix is now, reading a note from our news desk the vix is below 13 for the first time since june of 2007. and lot of that would mean that the risk premiums of course have shrunk and that would be because people are looking out saying rather than at the end of january beginning of february they've got to really ramp up the rhetoric and we get right back to the fisticuffs we saw in december we're not perhaps going to get that now because of this what john harwood just reported. >> another down day for apple and off more than 4% this week is a bottom near or will demand worries keep weighing on shares? pete, i'll go to you on this one. >> stay away from apple. i don't understand what the fascination. everybody has had this fascination that t
i like the enforced budget cuts because that really helps the deficit. so i'm in favor of that. >> it's another reason the vix is down this much today, judge. you look at the market the market is pretty flat today. but the vix is just getting cranked. >> on your point, sorry to interrupt, i want to let everybody know the vix is now, reading a note from our news desk the vix is below 13 for the first time since june of 2007. and lot of that would mean that the risk premiums of course...
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Jan 14, 2013
01/13
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plus, senator rob portman on the deficit battle shaping up in congress. "squawk box" starts tomorrow at 6:00 a.m. eastern. let's go. ♪ ♪ ♪ [ male announcer ] introducing the all-new cadillac xts... another big night on the town, eh? ...and the return of life lived large. ♪ nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro.
plus, senator rob portman on the deficit battle shaping up in congress. "squawk box" starts tomorrow at 6:00 a.m. eastern. let's go. ♪ ♪ ♪ [ male announcer ] introducing the all-new cadillac xts... another big night on the town, eh? ...and the return of life lived large. ♪ nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies....